K M Steel Fabrications Ltd - Limited company - abbreviated - 11.6

K M Steel Fabrications Ltd - Limited company - abbreviated - 11.6

K.M. STEEL FABRICATIONS LIMITED - Company Information

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REGISTERED NUMBER: 03448459 (England and Wales)















Abbreviated Unaudited Accounts for the Year Ended 30 September 2014

for

K M Steel Fabrications Ltd

K M Steel Fabrications Ltd (Registered number: 03448459)






Contents of the Abbreviated Accounts
for the Year Ended 30 September 2014




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

K M Steel Fabrications Ltd

Company Information
for the Year Ended 30 September 2014







DIRECTOR: K M Steel





SECRETARY: Mrs J D Steel





REGISTERED OFFICE: The Island House
Midsomer Norton
Radstock
Somerset
BA3 2DZ





REGISTERED NUMBER: 03448459 (England and Wales)





ACCOUNTANTS: King Watkins Ltd
The Island House
Midsomer Norton
Radstock
Somerset
BA3 2DZ
Page 1
K M Steel Fabrications Ltd (Registered number: 03448459)

Abbreviated Balance Sheet
30 September 2014

30.9.14 30.9.13
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 71,660 76,669

CURRENT ASSETS
Stocks 12,100 12,100
Debtors 141,591 86,784
Cash at bank and in hand 452,332 520,472
606,023 619,356
CREDITORS
Amounts falling due within one year 236,708 224,879
NET CURRENT ASSETS 369,315 394,477
TOTAL ASSETS LESS CURRENT LIABILITIES 440,975 471,146

PROVISIONS FOR LIABILITIES 2,344 2,789
NET ASSETS 438,631 468,357

CAPITAL AND RESERVES
Called up share capital 3 200 200
Profit and loss account 438,431 468,157
SHAREHOLDERS' FUNDS 438,631 468,357

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and
of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with
the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the director on 12 March 2015 and were signed by:





K M Steel - Director


The notes form part of these abbreviated accounts

Page 2
K M Steel Fabrications Ltd (Registered number: 03448459)

Notes to the Abbreviated Accounts
for the Year Ended 30 September 2014

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting
Standard for Smaller Entities (effective April 2008).

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% on cost
Plant and machinery - 15% Straight line, 10% Residual value
Fixtures and fittings - 15% Straight line, 10% Residual value
Motor vehicles - 25% Straight line, 20% Residual value

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 October 2013
and 30 September 2014 189,793
DEPRECIATION
At 1 October 2013 113,124
Charge for year 5,009
At 30 September 2014 118,133
NET BOOK VALUE
At 30 September 2014 71,660
At 30 September 2013 76,669

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.14 30.9.13
value: £    £   
100 Ordinary £1 100 100
100 Ordinary B £1 100 100
200 200

4. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at 30.9.2014 the Company owed the director £152,436 (2013 £160,785).

5. RELATED PARTY DISCLOSURES

During the year, total dividends of £50,000 (2013 - £50,000) were paid to the director .

Page 3 continued...
K M Steel Fabrications Ltd (Registered number: 03448459)

Notes to the Abbreviated Accounts - continued
for the Year Ended 30 September 2014

5. RELATED PARTY DISCLOSURES - continued

The company rent property from K M and J D Steel. Rent charged for the year was £12,000 (2013 £12,000).

6. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is K M Steel.


Page 4